Global Agriculture Spending Hits Record $701 Billion, But Efficiency Slips – FAO

Governments worldwide spent a record $701 billion on agriculture in 2023, according to a new FAO report — yet the sector’s share of economic output continues to shrink.

The “Tracking Progress on Food and Agriculture-Related SDG Indicators 2025” report shows that while absolute spending on agriculture has surged, the Agriculture Orientation Index (which measures agricultural spending relative to its GDP contribution) fell from 0.50 in 2015 to 0.43 in 2023.

Despite this record spending, the FAO warns the world is still “moderately distant” from meeting the Sustainable Development Goals for productive and sustainable agriculture. None of the key sub-indicators has fully met its target yet, though some progress is seen in areas like crop diversification, nitrogen use efficiency, and managing water stress.